About Morgan Brooks
Morgan Brooks has posted its home loan offer online in a manner that is resonating with Australians. With interest rates right up front and a logical tab line, the site is polished and appealing.
A Simple Platform
Decidedly simplified, the site nonetheless encapsulates all any consumer will need to know before applying for a home loan online.
A family that houses families
Morgan Brooks is a family owned business and a keen participant in the Mortgage Finance Association of Australia (MFAA).
Offering Quality Service Since 1993
The organisation’s prime objective is to maintain ethical dealings within the mortgage industry. Having set up offices in Brisbane in 1993, the company presents as a modern, stylish home loan option. Its focus and ethos remain firmly rooted in giving Australians a good deal on a home.
Get in Touch
With helpline details clearly displayed and a sleek click-through to the various possible homeowner categories, Morgan Brooks, a non-bank lender, offers prospective homeowners various options on a loan.
Owner Occupied and Investment Loans
Differentiating between home loans to occupy and investment purchases, theirs is a nuanced and detailed offering from which any consumer can pick and choose.
What Morgan Brooks can offer you
Morgan Brooks offers consumers intending to live in the home they purchase a discount on a variable rate loan that runs for the life of the loan.
Apply Free of Charge
Currently there are no loan application fees. Interest rates and repayment terms will be determined in discussion, and a fixed interest rate is also available.
Clients can also beef the home loan up with a construction loan to facilitate renovations & additions.
Boasting Australia’s lowest principal and variable interest rate, Morgan Brooks is currently pitching investor home loans at 3.96% against a comparative rate of 4.08%.
As with the occupied option, many benefits are bundled with a home loan of this nature. Withdrawals, online access, fixed rate terms of 1,2,3,4 and 5 years and various options on repayments schedules, from weekly to monthly, are all in the mix.
Again as per the genuine homeowner’s options, an investor’s home loan facility can be split up to 4 times between variable rate and fixed.
Perhaps even more pertinent for consumers who would wish to develop a little, sell and move on, a construction loan can also embellish the initial home loan.
In a Nutshell
- Fixed-rate home loans
- Interest-only home loans
- Interest rate From 3.76% to 5.14% per annum
- Loan term minimum 10 years
- Loan term maximum 30 years
- Online application
- In-store application
Old School Personal Service
Perhaps a touch old school in their application process, clients click through to a PDF. This document will then need to be printed and filled in by hand and scanned and mailed back or submitted at the company’s premises.
The other option is to click “Apply online” by completing their online loan application to be taken to a brief personal information dialogue box which is then submitted, essentially a “leave a message” option.
While this route to application for a mortgage no doubt appeals to some, Morgan Brooks must surely discourage others who favour a complete online form process in the digital age.
That said, the company is not lagging nor oblivious and it can be assumed that they maintain their application process for the purposes of targeting their ideal market.
Flexibility & Straightforward Approach
The reality of their flexibility and straightforward approach certainly puts them among the contenders for port of call for Australians looking for a first or new home.
Credit Solutions for Investors
Investors too have found a home at the company and many who have financed through Morgan Brooks wouldn’t contemplate going elsewhere due largely to their great service, wholesale transparency and willingness to tweak repayment rates gladly.
Add to that the fact that there’s a decidedly personal touch in this still-blossoming company, and it’s easy to see why so many consumers pass through their doors each year.